Web3 Loyalty – April 2023 Recap

1. Solana Partners with Boba Guys to Launch Blockchain-Based Loyalty Program

Solana, a blockchain platform, has partnered with Boba Guys, a bubble tea chain in the US, to launch a blockchain-based loyalty program. The program, called “Boba Token,” will allow customers to earn tokens for their purchases, which can be redeemed for rewards such as free drinks or merchandise. The tokens will be stored on the Solana blockchain, which allows for fast and cheap transactions. Boba Guys plans to roll out the program initially in San Francisco and later expand to other locations. This partnership highlights the potential for blockchain technology to be used in loyalty programs to enhance customer engagement and retention.

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2. NFT Platform OneOf Acquires Blockchain Rewards Firm Tap Network

OneOf, a non-fungible token (NFT) platform, has acquired Tap Network, a blockchain-based rewards company. Tap Network offers a loyalty program that allows users to earn and redeem rewards across a range of partners, including airlines, hotels, and retailers. The acquisition will allow OneOf to integrate Tap Network’s rewards system into its NFT platform, providing users with additional incentives to participate in the ecosystem. OneOf is focused on creating a sustainable and ethical NFT marketplace, with a particular emphasis on supporting musicians and artists. The integration of Tap Network’s rewards system will allow OneOf to further this goal by incentivizing fans to engage with their favorite artists and providing a new revenue stream for musicians. The acquisition also highlights the potential for blockchain technology to be used in loyalty programs and rewards systems, beyond the traditional use cases in finance and payments.

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3. OpenSea Launches “No-Fee” Marketplace with NFT Rewards

OpenSea, one of the leading NFT marketplaces, has launched a “no-fee” pro marketplace that offers NFT rewards to buyers and sellers. The platform will not charge transaction fees, but instead will offer rewards in the form of “OST” tokens to users who participate in the marketplace. These tokens can be redeemed for discounts on future purchases, exclusive NFT drops, and other rewards. The launch of the pro marketplace and rewards program is part of OpenSea’s strategy to become the go-to platform for NFT collectors and creators. The platform already hosts a wide range of NFTs, including artwork, music, and gaming items, and has seen explosive growth in recent months. The addition of a no-fee marketplace and rewards program is expected to further boost adoption and user engagement on the platform. The move also highlights the growing importance of rewards and loyalty programs in the NFT ecosystem, as marketplaces look for ways to differentiate themselves and retain users.

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4. Starbucks Launches NFT Collection on Nifty Gateway

Starbucks, the global coffee chain, has launched a collection of non-fungible tokens (NFTs) on the Nifty Gateway marketplace. The collection features five NFTs that depict various Starbucks products, including a cup of coffee and a cake pop. The NFTs are being sold in limited editions, with prices ranging from $40 to $100. The move follows Starbucks’ earlier foray into the NFT space, when it released a collection of “coffee-related digital art” on the Rarible marketplace. The launch of the Nifty Gateway collection is part of Starbucks’ broader strategy to experiment with new digital technologies and engage with younger audiences. NFTs have emerged as a popular new asset class in recent months, with high-profile sales and celebrity endorsements driving interest and adoption. The addition of a major brand like Starbucks to the NFT ecosystem is seen as a sign of its growing mainstream acceptance and potential for further growth.

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5. Adidas Launches Dynamic NFT Drop to Build Long-Term Brand Loyalty

Adidas, the global sportswear brand, has launched a dynamic non-fungible token (NFT) drop to build long-term brand loyalty among its customers. The NFT drop includes a series of digital sneakers that can be “worn” in augmented reality (AR) through a mobile app. The shoes are designed to evolve over time, with new features and designs being added through updates. The NFTs will be sold in limited editions, with prices ranging from $10 to $1,000. The move is part of Adidas’ broader strategy to experiment with new digital technologies and engage with younger audiences. The company sees NFTs as a way to build long-term relationships with its customers, by offering unique and exclusive experiences that cannot be replicated elsewhere. The launch of the dynamic NFT drop is seen as a creative way to add value to the NFTs and generate ongoing engagement with the brand. The move also highlights the potential for NFTs to be used in marketing and branding, beyond their traditional use cases in art and collectibles.

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